Latest news with #KalpeshMehta
The Print
15-05-2025
- Business
- The Print
Trump Residences sold out on day 1 of Gurugram launch; record bookings worth Rs 3,250 crore
Online bookings opened on 13 May. The ultra-premium penthouses, worth Rs 125 crore, were also fully allotted, the developers said in a statement. Smartworld Developers and Tribeca Developers, partners of The Trump Organisation in this project, said they saw 'record' bookings worth Rs 3,250 crores at Trump Residences. Gurugram: Amid the controversy over US President Donald Trump's claims that he brokered a 'ceasefire' between India and Pakistan, Trump Residences in Gurugram sold out completely on the first day of the launch, with its Indian partners calling it a 'landmark moment for India's luxury market'. The real estate venture, located in Sector 69 along Southern Peripheral Road and Golf Course Road Extension, is Trump's sixth residential project in India and second in Gurugram alone. Despite construction still being in progress, the 129 luxury apartments priced between Rs 8 crore and Rs 15 crore have already been booked. The 51-storey twin towers will feature 12 lakh square feet of saleable area with base prices starting at Rs 27,000 per square foot. It was not immediately clear when the construction will be completed. The project showcases distinctive architectural elements, including floor-to-ceiling glass walls, double-height living rooms, private elevators, and panoramic views of the Aravalli hills. It will also house India's first aquarium bar with an integrated restaurant, the developers said. 'The phenomenal response to Trump Residences is a testament to the aspiration for world-class living in India. Smartworld is proud to lead the delivery of this landmark project, and we thank our buyers for their trust in our vision,' Pankaj Bansal, Founder of Smartworld Developers, told ThePrint, Thursday. Kalpesh Mehta, Founder of Tribeca Developers, echoed similar sentiments, describing the project as 'not just a real estate project—it's a landmark moment for India's luxury market'. He attributed the success to 'the unmatched magnetic pull of the Trump brand' and how it resonates with India's high-end buyers. According to the arrangement, Smartworld will oversee development, construction, and customer service, while Tribeca has taken the lead on design, marketing, sales, and quality control for the project. This represents the second Trump-branded residential development in northern India. The first, Trump Towers in Delhi-NCR, launched in 2018 in Gurugram, is also fully sold out and scheduled for delivery later this month. In April this year, the Tribeca Developers founder, Kalpesh Mehta, announced that either Donald Trump Jr. or Eric Trump, sons of the current US president, could soon travel to India to oversee progress on the Trump Tower project in Gurugram. The Trump family has maintained connections with their Indian real estate ventures, with Donald Trump Jr having made visits to the country in 2018 and 2022. (Edited by Sanya Mathur) Also Read: US pushes for direct India-Pakistan talks, 'dealmaker' Trump ready to aid 'pursuit of peace'
Time of India
14-05-2025
- Business
- Time of India
Trump Towers in Gurgaon sold out on day 1, nets Rs 3,250 crore in allotments
Credit: ANI NEW DELHI: The second Trump Towers development in Gurgaon, currently under construction, has been entirely sold out, the developers — Smartworld Developers and Tribeca Developers — announced on Tuesday, news agency ANI reported. According to the companies, Trump Residences Gurgaon saw a record-breaking response on launch day, with total allotments amounting to Rs 3,250 crore. Even the project's most exclusive penthouses, priced at Rs 125 crore, were fully booked. The 298 ultra-luxury homes in the development, priced between Rs 8 crore and Rs 15 crore, were absorbed in a short span, signaling rising demand for high-end, branded residences in India. A joint collaboration between Smartworld, Tribeca, and The Trump Organization, the project includes two soaring 51-storey towers. While Smartworld is in charge of development, construction, and customer experience, Tribeca — the Trump brand's exclusive representative in India — is overseeing design, marketing, sales, and quality assurance. This marks the second residential Trump-branded project in North India. The developers added that the first Trump Towers Delhi NCR, which launched in Gurgaon in 2018, is also completely sold and is scheduled for delivery later this month. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cinnamon: The Greatest Enemy of Blood Sugar Magazine Glyco Learn More Undo Speaking on the overwhelming demand, Pankaj Bansal, Founder of Smartworld Developers, said, 'The phenomenal response to Trump Residences is a testament to the aspiration for world-class living in India. Smartworld is proud to lead the delivery of this landmark project, and we thank our buyers for their trust in our vision.' Kalpesh Mehta, Founder of Tribeca Developers, added, 'Trump Residences Gurgaon is not just a real estate project – it's a landmark moment for India's luxury market. Selling Rs 3,250 crore on Day 1 places this among the biggest luxury deals the country has ever seen.' Currently, there are five Trump-branded luxury residential towers in India — located in Mumbai, Pune, two in Gurgaon, and one in Kolkata. Tribeca, led by Kalpesh Mehta, has partnered with The Trump Organization in India for over 13 years. Mehta, who shares close ties with the Trump family, studied at the prestigious Wharton School along with Donald Trump Jr. Either Donald Trump Jr. or Eric Trump is expected to visit India in the coming months to assess progress on the Gurgaon project, Mehta said recently at the project launch. Trump Jr., the son of former US President Donald Trump, last visited India in 2018 and again in 2022. Confirming the upcoming visit, Pankaj Bansal said, 'We are working on the schedule, and hopefully within two months, Donald Trump Jr. or Eric Trump will be coming to India to see the Trump Tower in Gurgaon.'
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Business Standard
13-05-2025
- Business
- Business Standard
Trump Residences in Gurugram sells out in a day for Rs 3,250 crore
Trump Residences in Gurugram, the second Trump-branded residential project in the city, has sold out on its launch day, recording ₹3,250 crore in allotments. Priced between ₹8 crore and ₹15 crore per residence, the development's 298 homes were sold within a month of its launch. The developers stated this absorption reflects the surging demand for branded, ultra-luxury living in India. Tribeca Developers, the licensed partner for the Trump Organization in India and Smartworld Developers are jointly developing the project. The companies added that the project's four ultra-premium penthouses, valued at ₹125 crore, were also fully allotted. The project, comprising two 51-storey towers and 1.2 million square feet in Gurugram Sector 69 is estimated to be finished within five years of its launch. The investment in the project is around ₹1,200 crore, according to people in the know. 'This project marks the second Trump-branded residential development in North India. The first Trump Towers in Delhi NCR, which launched in 2018 in Gurugram, is also fully sold out and set for delivery later this month,' the companies stated. Kalpesh Mehta, founder of Tribeca Developers, said that this launch proves the magnetic pull of the Trump brand and how it resonates with India's most discerning buyers. 'The existing Trump project in Gurugram has around 25 to 30 per cent NRI participation, which is very high for luxury projects of this ticket size,' Mehta said.
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Business Standard
13-05-2025
- Business
- Business Standard
Second Trump Residences project in Gurugram sells out for ₹3,250 crore
Trump Residences in Gurugram, the second such Trump-branded residential project in the city, has sold out on launch day, recording Rs 3,250 crore in allotments. Priced between Rs 8 crore and Rs 15 crore per residence, the development's 298 homes were absorbed within a month of its launch, which the developers said is a testament to the surging demand for branded, ultra-luxury living in India. The project is being jointly developed by Tribeca Developers — the licensed partner for the Trump Organisation in India — and Smartworld Developers. While Smartworld will oversee development, construction and customer service, Tribeca leads design, marketing, sales and quality control for the project. The companies added that the project's four ultra-premium penthouses, valued at Rs 125 crore each, were also fully allotted. Comprising two 51-storey towers, the 1.2 million square feet (msf) development in Gurugram Sector 69 is estimated to be finished within five years of launch. The investment in the project is around Rs 1,200 crore, according to people in the know. 'This project marks the second Trump-branded residential development in North India. The first, Trump Towers Delhi NCR, launched in 2018 in Gurugram, is also fully sold out and set for delivery later this month,' the companies stated. Kalpesh Mehta, founder of Tribeca Developers, said that this launch proves the magnetic pull of the Trump brand and how it resonates with India's most discerning buyers. At the time of launch, Mehta added that they were expecting 20 to 25 per cent of the participation in the new project to come from non-resident Indians (NRIs). 'The existing Trump project in Gurugram has around 25 to 30 per cent NRI participation, which is very high for luxury projects of this ticket size,' Mehta said. The Trump Organisation currently has six projects across four cities in India — in Mumbai, Pune, Gurugram and Kolkata. Of these, five are luxury residential projects, while one is a commercial office project in Pune.
Time of India
13-05-2025
- Business
- Time of India
Smartworld, Tribeca sell all 298 homes for Rs 3,250 cr in 'Trump-branded' project at Gurugram
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Realty firms Smartworld Developers and Tribeca Developers have sold all 298 units in the 'Trump' branded ultra-luxury residential project in Gurugram for Rs 3,250 crore, reflecting a strong demand for premium homes in the Delhi-NCR market. In a statement on Tuesday, Smartworlds and Tribeca announced "complete sell-out of Trump Residences Gurgaon on launch day", clocking sales of Rs 3,250 crore."Priced between Rs 8 crore and Rs 15 crore per unit, the development's 298 homes were absorbed in record time - a testament to the surging demand for branded, ultra-luxury living in India," the statement landmark collaboration between Smartworld, Tribeca, and The Trump Organization comprises two 51-storey will oversee development, construction, and customer service, while Tribeca leads design, marketing, sales, and quality Bansal, Founder of Smartworld Developers, said: "The phenomenal response to Trump Residences is a testament to the aspiration for world-class living in India."Kalpesh Mehta, Founder of Tribeca Developers, said: "This launch proves the unmatched magnetic pull of the Trump brand and how deeply it resonates with India's most discerning buyers."Last month, Smartworld Developers and Tribeca Developers announced that they will develop an ultra-luxury residential project in Gurugram under the 'Trump' brand with a total investment of around Rs 2,200 crore.M3M Group firm Smartworld Developers and Tribeca launched the 'Trump Residences' project at Sector 69, has become the Trump brand's largest market outside the January this year, Donald Trump was sworn in as the President of America. This is the second Trump-branded project announced in India after he became the US Tribeca Developers, the official representatives of the Trump brand in India, said these deals were signed 6-8 months is the second Trump-branded residential project in Gurugram and the sixth project in of six Trump-branded projects announced in India so far, four have already been completed in Pune, Mumbai, Kolkata and late March 2025, Tribeca Developers partnered with Kundan Spaces to develop a Rs 2,500 crore worth commercial project ' Trump World Center ' in Pune, marking the entry of US-based Trump Organisation in Indian commercial real estate.
